Click here to Visit the RBI’s new website

BBBPLogo

publications

PDF document (123 kb)
Date : Dec 19, 2024
Contents
Foreword
List of Abbreviations
Chapter I: Overview
Chapter II: Fiscal Position of the State Governments
1. Introduction
2. Key Fiscal Indicators
3. Receipts
4. Expenditure
5. Actual Outcome in 2024-25 So Far and Outlook
6. Financing of GFD and Market Borrowings by State Governments and UTs
7. Outstanding Liabilities
8. Conclusion
Annex II.1: Deficit Indicators - State-wise
Annex II.2: States’ Expenditure on Research and Development (R&D)
Chapter III: Fiscal Reforms by States
1. Introduction
2. Review of Sub-national Fiscal Rules
3. Institutional Reforms
4. Major Expenditure Reforms
5. Tax Reforms
6. Borrowing Reforms
7. Power Sector Reforms
8. Reforms: Way Ahead
9. Concluding Observations
Annex III.1: Abbreviations used for States
Annex III.2: State Institutions for Transformation
Annex III.3: List of Major Schemes Undertaken by the States under DBT
Annex III.4: Fiscal Reforms by States
Chapter IV: The Way Forward
Annex IV.1: Statement on Total Outstanding Liabilities
References
Explanatory Note on Data Sources and Methodology
e-STATES Database
LIST OF BOXES
II.1 GST and Convergence in the Tax-GSDP Ratios of States
II.2 Expenditure Multipliers of Indian States
II.3 Working Group on State Government Guarantees – Major Recommendations
III.1 Sub-national Fiscal Rules: Cross-country Practices
III.2 Transforming Fiscal Management – A Case Study of Odisha
LIST OF TABLES
II.1 Major Deficit Indicators - All States and Union Territories with Legislature
II.2 Aggregate Receipts of State Governments and Uts
II.3 Expenditure Pattern of State Governments and UTs
II.4 Changes in Gross Market Borrowings across Major States
II.5 Market Borrowings of State Governments
II.6 Maturity Profile of Outstanding State Government Securities
II.7 State Governments’ Investments in Treasury Bills
II.8 Investment in CSF/GRF by States/UTs
II.9 Outstanding Liabilities of State Governments and UTs
II.10 Composition of Outstanding Liabilities of State Governments and UTs
II.11 Guarantees Issued by State Governments
III.1 FRL Practices of States
III.2 PEFA Scoring Mechanism
III.3 Fiscal Marksmanship of Revenue Receipts and its Components using PEFA
III.4 Fiscal Marksmanship of Revenue Expenditure and its Components using PEFA
III.5 Fiscal Marksmanship of Capital Expenditure and its Components using PEFA
III.6 Comparative Analysis of OPS, NPS and UPS
III.7 Number of States/UTs which availed SDF/ WMA/ OD
LIST OF CHARTS
II.1 Gross Fiscal Deficit
II.2 Key Drivers of Change in GFD during 2022-23 over 2021-22
II.3 Key Drivers of Change in GFD during 2023-24 over 2022-23
II.4 States’ GFD-GSDP Ratios and FRL Limit in 2024-25
II.5 States’ Own Tax Revenue
II.6 Own Tax Revenue
II.7 Revenue Expenditure
II.8 Social Sector and Committed Expenditure
II.9 States’ Capital Outlay
II.10 Capital Outlay: Pre-and Post-Interest Free Loan Scheme
II.11 State-Wise Interest-Free Loans
II.12 State-Wise RECO Ratio for 2024-25 (BE)
II.13 Research and Development Expenditure – Component-wise
II.14 States’ Revenue Receipts during April-October 2024-25
II.15 Growth in States’ Capital Outlay
II.16 States’ Gross Market Borrowings
II.17 Actual vs. Indicative Calendar
II.18 Net Market Borrowings of Major States
II.19 SGSs – Maturity and Yield Spread
II.20 States’ Outstanding Liabilities at end-March 2025 (BE)
II.21 Interest Burden of States
III.1 Adherence to Fiscal Targets – State-wise Performance
III.2 Central Transfers and Expenditure Quality of States
III.3 DBT Performance Index 2020
III.4 Financing of Gross Fiscal Deficit (GFD)
III.5 Investment by State Governments in CSF and GRF
III.6 Recent Performance of DISCOMs
LIST OF APPENDIX TABLES FOR STATES’ BUDGETS 2024-25
1. Major Deficit Indicators of State Governments
2. Devolution and Transfer of Resources from the Centre
3. Development and Non-Development Expenditure: Aggregate
4. Development Expenditure - Major Heads
5. Non-Development Expenditure - Major Heads
6. Development and Non-Development Expenditure
7. Composition of Social Sector Expenditure
8. Decomposition of Gross Fiscal Deficit
9. Financing of Gross Fiscal Deficit
10. Financing of Gross Fiscal Deficit - As per cent of Total
11. Composition of Outstanding Liabilities of State Governments and Uts
12. Composition of Outstanding Liabilities of State Governments and UTs - As per cent of Total
13. State Government Market Borrowings
LIST OF STATEMENTS AND APPENDICES FOR STATES’ BUDGETS 2024-25
LIST OF STATEMENTS
1. Major Fiscal Indicators
2. Revenue Deficit/Surplus
3. Gross Fiscal Deficit/Surplus
4. Decomposition of Gross Fiscal Deficit
5. Financing of Gross Fiscal Deficit – 2022-23 (Accounts)
6. Financing of Gross Fiscal Deficit – As per cent of Total – 2022-23 (Accounts)
7. Financing of Gross Fiscal Deficit – 2023-24 (Revised Estimates)
8. Financing of Gross Fiscal Deficit – As per cent of Total – 2023-24 (Revised Estimates)
9. Financing of Gross Fiscal Deficit – 2024-25 (Budget Estimates)
10. Financing of Gross Fiscal Deficit – As per cent of Total 2024-25 (Budget Estimates)
11. Development Expenditure
12. Non-Development Expenditure
13. Interest Payments
14. Tax Revenue
15. Non-Tax Revenue
16. Loans from the Centre
17. Devolution and Transfer of Resources from the Centre
18. Composition of Outstanding Liabilities
19. Total Outstanding Liabilities of State Governments
20. Total Outstanding Liabilities - As per cent of GSDP
21. Market Borrowings of State Governments
22. State Government Market Loans
23. Maturity Profile of Outstanding State Government Securities
24. Maturity Profile of Outstanding State Government Securities - As per cent of Total
25. Investment Outstanding in Treasury Bills
26. Expenditure on Education - As per cent of Aggregate Expenditure
27. Expenditure on Medical and Public Health and Family Welfare - As per cent of Aggregate Expenditure
28. Outstanding Guarantees of State Governments
29. Expenditure on Wages and Salaries
30. Expenditure on Operations and Maintenance
31. Social Sector Expenditure
32. Social Sector Expenditure as per cent of Total Disbursement
33. Revenue Receipts of State Governments and UTs
34. Revenue Expenditure of State Governments and UTs
35. Development Expenditure: Select Indicators
36. Subsidies
37. States’ Expenditure on Medical and Public Health, Family Welfare and Water Supply and Sanitation
APPENDICES
I. Revenue Receipts of States and Union Territories with Legislature
II. Revenue Expenditure of States and Union Territories with Legislature
III. Capital Receipts of States and Union Territories with Legislature
IV. Capital Expenditure of States and Union Territories with Legislature
NOTES TO APPENDICES

Top